** Shares of Close the Loop CLG.AX rise as much as 24.4% to A$0.255, logging their biggest intraday pct gain since early June 2022

** Stock hits highest level since Aug. 26

** Environmental services provider receives non-binding indicative proposal from private investment manager Adamantem Capital

** Cash deal valued at A$143.6 mln ($93.31 mln); offer price of A$0.27 per share is at a ~45.5% premium to stock's last close

** More than 2 mln shares change hands vs the 30-day avg volume of 912,000 shares

** YTD, Close the Loop down 35.5%, as of 0040 GMT

($1 = 1.5389 Australian dollars)

(Reporting by Nikita Maria Jino in Bengaluru)

((Nikita.Jino@thomsonreuters.com;))